February 15, 2019
The ports of Los Angeles and Long Beach reported weaker import numbers for January, suggesting trouble may be ahead. Muted figures sailed in, despite a rush by importers to get goods from China in ahead of possible hefty tariffs. Imports at the Port of Los Angeles were up just 1.7% compared to the same time last year, while the numbers were near flat at the Port of Long Beach.
The Port of Los Angeles processed 852,449 twenty-foot equivalent units (TEUs) in January, the busiest January in the Port’s 112-year history. The volumes represent a 5.4% jump over last January, and marks the seventh consecutive month the Port has handled more than 800,000 TEUs.
Port of Los Angeles’ Gene Seroka says, “These robust volumes reflect the pre-Lunar New Year surge of cargo, continued tariff-related inventory advances and strong consumer demand. With warehouses and distribution centers already full with spring goods and supplies, we will see softer volumes immediately after the Lunar New Year as anticipated.”
In January, dockworkers at the Port of Long Beach handled 657,286 twenty-foot equivalent units (TEUs), a 0.1% decrease compared to the Port’s all-time January record set in 2018. Imports totaled 323,838 TEUs, down 0.3%, while exports slid 2.7% to 117,288 TEUs in Long Beach.
Connect Los Angeles is planned March 21st at the Hotel Indigo Downtown Los Angeles. You can get more information and register on this link.
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